LINN HIKES DISTRIBUTION.

SO IT MIGHT ACTUALLY RISE

Okay so i'm being sarcastic but since we seen this go to a 12% yield on private equity stock pressure and the general market mess i'm not assuming anything. And we've been through all the reasons ad-nauseum. Bottom line is a 10% yield which still prices in a lot of risk gives you a 25 buck stock price. We'll see.

Meanwhile unlike prior reversals which took MLPS into the toilet with the rest of the tape we managed to hold on to a solid gain in the MLP index yesterday. Now much of the gain came from the heavyweights like Kinder Morgan (KMP) Enterprise (EPD) and Nustar (NS) but the rate cuts may be finally giving us some much needed attention.

We still need to get through the moving averages which is right above us. Never a dull moment. The dow chart below is not encouraging here but the fed is getting aggressive.

Earnings news this morning from Alliance Resources (ARLP) and Alliance Holdings (AHGP) which were records. The company is also giving guidance for 2008. Nothing yet on the upgrade downgrade list so far this morning. Watch for more MLPS going ex-distribution this morning including Hiland LP (HLND) Penn Virginia Resource and Holdings (PVR,PVG) among others.